Global Pyridine Market Share Estimated to Reach USD 1022 Million by 2026
According to Facts and Factors, the global Pyridine market in 2019 was approximately USD 657.8 Million. The market is expected to grow above a CAGR of 6.5 % and is anticipated to reach over USD 1022 Million by 2026.
Pyridine is an azaarene N-heterocyclic compound having a benzene core where one nitrogen atom occupies the place of CH group. Pyridine is the most basic compound among the aromatic heterocyclic series. It structure possess tetrahedral and octahedral geometries which can be recognized by infra-red spectral investigations. Pyridine is produced synthetically by Bonnemann cyckization, Chichibabin synthesis, cobalt catalyzed alkyne-nitrile cyclomerization etc. Pyridine is majorly consumed as an precursor in production of agrochemicals, pharmaceuticals, food additives and as a naturant in anti-freezing.
With a widening range of applications, the pyridine demand is expected to get boost in foreseeable future. The continuous research and development in overcoming the stringent governments regulation by reducing the toxicity level and heath hazards associated with the pyridine is expected to impact market dynamics in the foreseeable future. In addition to above, research and development for increasing the chemical functionalities of pyridine is further expected to catalyze the market growth.
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The increasing use of pyridine in product of agrochemicals such as fungicides, pesticides and herbicides is expected to rise with rising concerns about the decreasing arable land. The demand for pyridine and its derivatives in the pharmaceutical sector is also expected to rise with the expansion of the pharmaceutical sector. Furthermore, the use of pyridine in anti-freezing mixtures is also expected to rise with advancements in the research and development.
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The Pyridine N-Oxide is expected to dominate the product type segmentation during the forecast period till 2026. The Pyridine N-Oxide market is also expected to exhibit highest CAGR during the forecast period. Bata Picoline is also expected to grow at significant rate owing to rising demand for niacin.
The application of pyridine in the agrochemicals is expected to rise in terms of volumes and value. The agrochemicals segment is expected to hold largest market share while expanding at CAGR of 7.8% during the forecast period. The pharmaceutical application segment is expected hold second largest market share. The use of pyridine as denaturant is expected to grow at significant rate during the forecast period.
Regionally, Asia Pacific region is anticipated to hold largest market share in terms of volume among the regions. The APAC region is also expected to grow at highest rate owing to rising pharmaceutical sector in the region. The anticipated growth in the region is majorly contributed by expanding pharma industry in the China and India. The European region is expected to remain largest revenue generating market during the forecast period followed by APAC and North America.
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Major players operating in the global pyridine market covered in this report include Resonance Specialties Limited, Jubilant Life Sciences, Specialties Inc., Lonza Group Ltd., Koei Chemical Company Limited, Shangdong Luba Chemical Co. Ltd., Weifang Sunwin Chemical Company Limited, Bayer AG Mitsubishi Chemical Company and Vertellus Red Sun Group.
This report segments the global pyridine market as follow:
Global Pyridine Market: By Product Type Segmentation Analysis
- Pyridine N-Oxide
- Alpha Picoline
- Beta Picoline
- Gamma Picoline
Global Pyridine Market: By Application Segmentation Analysis
Global Pyridine Market: Regional Segmentation Analysis
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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